Embecta Corp. (NASDAQ:EMBC) Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Embecta Corp. (NASDAQ:EMBC) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,117 shares of the company’s stock after selling 12,593 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Embecta worth $3,837,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EMBC. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Embecta during the third quarter valued at $470,000. Copeland Capital Management LLC acquired a new stake in shares of Embecta in the 3rd quarter worth approximately $43,000. Inspire Advisors LLC boosted its holdings in shares of Embecta by 108.3% in the third quarter. Inspire Advisors LLC now owns 31,169 shares of the company’s stock valued at $439,000 after acquiring an additional 16,207 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Embecta during the third quarter valued at approximately $413,000. Finally, CWM LLC lifted its position in Embecta by 11.3% in the third quarter. CWM LLC now owns 10,102 shares of the company’s stock worth $142,000 after purchasing an additional 1,023 shares during the period. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Embecta Stock Performance

Shares of EMBC stock opened at $13.95 on Friday. The stock has a market cap of $804.66 million, a PE ratio of 11.54 and a beta of 0.97. The business’s fifty day moving average is $14.46 and its 200-day moving average is $13.96. Embecta Corp. has a 1 year low of $9.93 and a 1 year high of $19.79.

Embecta Company Profile

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.